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Kenya Economy to Grow 5%

Kenya Economy to Grow 5%

Kenya’s economy is expected to grow at between 5% and 5.6% in 2017, supported by increased government spending and resilient performance in transport, trade and tourism, Yahoo reported. Britam Asset Managers Thursday said unfavorable weather, subdued credit growth, but underscored soaring macro space will remain a risk to the country’s growth. The government needs to grow its expenditure by the targeted 16.4% this fiscal year and to achieve the expected 17.6% increase in revenues, in order to meet the projected economic growth. The government must, therefore, spend to sustain gross domestic product growth above 5% in 2017.